Metro Phoenix and Scottsdale Home Sales for October 2011
Hi this is Jeff Cameron with MRW Homes in Scottsdale, AZ. It is November 3rd and it is a beautiful day here in Scottsdale. So, if you are in a Cold Environment across the country, know it is time to buy that vacation, second, retirement or investment home in metro Phoenix or Scottsdale.
Today we are going to review the home sales for October 2011. So, let’s get to those sales numbers. Active Single Family Homes in Metro Phoenix and Scottsdale for sale as of November 1, 2011: there are are 15,395 which is up .01% from last month, but down over 50% year to date.
Pending Single Family Homes are 15,622, down 3% from last month. Pending peaked at over 18,000 in June of this year. As inventor dropped, sales have dropped off and Pendings followed. Remember there were 30,000 single family homes on the market last January and we had nearly 50,000 homes for sale at the Peak.
Closed homes in October were 6,489, down 6% from September which is a larger drop than the normal seasonal drop of 4.3%. However, this is up 15% from home sales in October, 2010. Home sales continue to decline as inventory of Available homes has dropped. There just are not enough homes for the buyers out there today. we listed a home last week, marketed it all week, drove a dozen buyers in to see the home on Saturday and yielded 5 offers. We sold the home over list price and 4 buyers are begging to move into first position. These are not investors, but owner occupants.
New sales in October stands at 6,089, which is a slight increase from September. Again, this is stronger than last year, 7% more home sales this year than October 2010.
The Average Price Per Square foot is $74.76, for October 2011. This appears to have made a bottom this year around $73 and is moving higher. This is the 3rd highest reading of the year, 1st being last January and 2nd being September.
With today’s real estate market, it’s even more important to hire a seasoned professional to sell your home. If you have questions about your home, your market or just want to talk. Call me Jeff Cameron 480-502-7699 MRW Homes
Oh, and if you believe those dooms dayers about Shadow Inventory be sure to watch my video “Shadow Inventory Myth or Reality” at TheCameronTeam.com or on Youtube at this link
Thanks for tuning in and have a Great Day!
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